Asana, Inc. (NYSE:ASAN – Get Free Report) has earned an average recommendation of “Hold” from the fourteen research firms that are presently covering the stock, Marketbeat Ratings reports. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have given a buy rating to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $14.21.
ASAN has been the subject of a number of research reports. Piper Sandler dropped their price objective on shares of Asana from $14.00 to $12.00 and set a “neutral” rating for the company in a report on Wednesday, September 4th. Oppenheimer dropped their price target on shares of Asana from $23.00 to $20.00 and set an “outperform” rating for the company in a research note on Wednesday, September 4th. KeyCorp reduced their price objective on Asana from $12.00 to $10.00 and set an “underweight” rating on the stock in a research note on Wednesday, September 4th. JPMorgan Chase & Co. decreased their target price on Asana from $15.00 to $13.00 and set an “underweight” rating for the company in a report on Wednesday, September 4th. Finally, Robert W. Baird cut their price target on Asana from $20.00 to $13.00 and set a “neutral” rating on the stock in a report on Wednesday, September 4th.
View Our Latest Research Report on ASAN
Insider Buying and Selling
Hedge Funds Weigh In On Asana
A number of institutional investors have recently modified their holdings of the business. Headlands Technologies LLC increased its position in Asana by 327.9% in the 2nd quarter. Headlands Technologies LLC now owns 2,897 shares of the company’s stock valued at $41,000 after acquiring an additional 2,220 shares during the period. Redwood Wealth Management Group LLC purchased a new position in shares of Asana in the 2nd quarter valued at approximately $65,000. Daiwa Securities Group Inc. increased its holdings in shares of Asana by 26.0% in the second quarter. Daiwa Securities Group Inc. now owns 4,983 shares of the company’s stock valued at $70,000 after purchasing an additional 1,028 shares during the period. Benjamin F. Edwards & Company Inc. raised its stake in shares of Asana by 139.3% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 6,673 shares of the company’s stock worth $93,000 after purchasing an additional 3,885 shares during the last quarter. Finally, Scientech Research LLC acquired a new stake in shares of Asana during the second quarter worth $146,000. 26.21% of the stock is owned by institutional investors and hedge funds.
Asana Price Performance
Shares of ASAN opened at $11.95 on Tuesday. The firm has a 50-day simple moving average of $12.39 and a two-hundred day simple moving average of $13.44. The stock has a market cap of $2.72 billion, a PE ratio of -10.21 and a beta of 1.14. Asana has a 1-year low of $11.05 and a 1-year high of $23.44. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.63 and a quick ratio of 1.63.
Asana (NYSE:ASAN – Get Free Report) last posted its earnings results on Tuesday, September 3rd. The company reported ($0.05) earnings per share for the quarter, beating the consensus estimate of ($0.08) by $0.03. Asana had a negative net margin of 37.73% and a negative return on equity of 81.88%. The firm had revenue of $179.21 million during the quarter, compared to the consensus estimate of $177.68 million. During the same quarter last year, the firm earned ($0.31) EPS. The firm’s revenue for the quarter was up 10.3% on a year-over-year basis. As a group, analysts forecast that Asana will post -1.14 EPS for the current year.
Asana Company Profile
Asana, Inc, together with its subsidiaries, operates a work management platform for individuals, team leads, and executives in the United States and internationally. Its platform helps organizations to orchestrate work from daily tasks to cross-functional strategic initiatives; manage work across a portfolio of projects or workflows, see progress against goals, identify bottlenecks, resource constraints, and milestones; and communicate company-wide goals, monitor status, and oversee work across projects and portfolios to gain real-time insights.
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